Credent Connect N Care raises Rs 26.53 crore from 10 anchor investors; Sunil Singhania's Abakkus Asset among top investors

Credent Connect N Care has raised Rs 26.53 crore from 10 anchor investors, signalling strong institutional interest in the healthcare logistics company ahead of its initial public offering (IPO) opening.

The company completed its anchor allocation on August 12, a day before the IPO opened for public subscription. It allotted 14.04 lakh shares to anchor investors at the upper end of the price band of Rs 189 per share. The IPO opened today, August 13, and will remain open for subscription until August 17.

Prominent investors participating in the anchor book included Sunil Singhania-backed Abakkus Asset Management, Motilal Oswal, Hem Growth Opportunities Fund and 360 ONE.

Abakkus leads anchor participation

Abakkus Asset Management emerged as the largest anchor investor through its Abakkus Venture Opportunities Fund and Mint Focussed Growth Fund. Each fund acquired 2.64 lakh shares for Rs 5 crore. Meanwhile, Hem Growth Opportunities Fund subscribed to 2.37 lakh shares for Rs 4.48 crore, while Motilal Oswal Finvest picked up 2.11 lakh shares for Rs 4 crore.

Other investors participating in the anchor round included LRSD Securities, Finavenue Capital Trust, Meru Investment Fund, Religo Commodities Venture Trust and Shine Star Build Cap.

Kacholia, Abakkus already hold pre-IPO stakes

The anchor participation comes against the backdrop of existing investments by prominent market participants. According to the company's red herring prospectus (RHP), Abakkus Venture Opportunities Fund held a 1.21% stake, while ace investor Ashish Kacholia owned 2.02% in the company. Both investors had acquired their stakes at Rs 187 per share in July 2026.

At the pre-IPO stage, Kacholia held a 2.02% stake, followed by Abakkus Venture Opportunities Fund with 1.21%. Covivial Advisors LLP, backed by Navin Agarwal, held a 1.07% stake.

Building a nationwide healthcare logistics network

Credent Connect N Care has over 14 years of operational experience in healthcare logistics and has built a nationwide network serving diagnostic laboratories, hospitals and healthcare enterprises. The company is associated with more than 2,500 laboratories and has a field force of over 6,500 professionals across India, enabling it to provide last-mile healthcare and sample collection services at scale.

Its technology-enabled platform manages multiple stages of the healthcare sample journey, including booking and assigning collections, sample collection, preservation, transportation, delivery and tracking.

The company also provides temperature-controlled logistics and cold-chain capabilities, including support for the critical 2–8°C temperature range required for several diagnostic and healthcare samples.

Credent Connect N Care operates at the intersection of healthcare, logistics and technology, with a business model focused on last-mile phlebotomy and sample transportation.

The company has positioned itself as a differentiated player in India, with no direct peer group, and aims to become the country's first listed dedicated healthcare logistics and last-mile phlebotomy platform.

Its services are designed to address the growing need for reliable sample movement as diagnostic testing and home sample collection gain traction across India.

By combining a large field force with technology and process-driven logistics, Credent Connect N Care seeks to help healthcare partners maintain the timely and reliable movement of samples from collection points to laboratories.

IPO details and financial performance

The company's IPO has a price band of Rs 179–Rs 189 per share, an issue size of approximately Rs 93.90 crore and a bid lot of 600 shares.

For FY2025–26, Credent Connect N Care reported a revenue of Rs 214.16 crore, while its EBITDA stood at Rs 28.46 crore. The company posted a profit after tax of Rs 18.45 crore and had a net worth of Rs 43.8 crore.

The financial performance highlights the scale of the company's operations as it prepares to enter the public markets.

For Credent Connect N Care, the IPO is not merely a fundraising exercise but a step towards its broader expansion strategy. The company aims to scale its revenue to Rs 1,000 crore over the coming years as it expands its presence across India's healthcare supply chain.

As healthcare delivery becomes increasingly reliant on diagnostics, home collections and decentralised testing, efficient last-mile logistics is emerging as an important part of the healthcare ecosystem. Timely collection, proper handling and dependable transportation of samples can directly contribute to faster and more efficient diagnostic services.

With its established laboratory network, extensive field force and technology-driven infrastructure, Credent Connect N Care is now preparing for its next phase of growth.

From collection to delivery, the company is betting on the growing importance of the healthcare last mile — and its IPO marks the beginning of its next chapter in India's evolving healthcare logistics landscape.

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